Review on Monolith by Ben Ste
The non-custodial Visa card for Eth users
I set up a Monolith account earlier in the year (2020). I was instantly impressed with the user experience and the deliverability of the token card.
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Monolith instantly showcased an unprecidented amount of detail to ensure their product has a futuristic aesthetic. Illustrating the departurte from the legacy financial structure, to entering life on Ethereum, their design work is spot on.
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Since openning the account I have seen my funds increase in value 35%. Although there aren't any value-adding rewards available that you find with other crypto cards, I am still happy with my funds performance and has vastly exceeded any local retail bank available in the U.K.
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I have had zero problems with the features available through the wallet; from buying and trading crypto, to transfering funds over to the Visa Card.
However i would like to see more features added to the wallet to make it a true 'Bank Killler'. This could be done by integrating other ethereum protocols and dapps to improve the services offered. An example of such, would be to link the 'Request Network' to allow for crypto invoicing. I did reach out to Monolith regarding invovicing and the use of Request Network, although there is no indicaiton that this will become a feature as of yet.
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Furthermore, besides wrapping bitcoin, the Monolith wallet can only support ETH and ERC20 tokens. In the future i would like to be able to use the monolith card interoperably with other blockchains.
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All-in-all a great non-custodial ethereum-based wallet, Excellent UX/UI. Monolith is a product I highly recommend to any ETH holders (in supporting countries). The team behind Monolith have been very good at handling support issues and answering queries. I look forward to seeing what the future of Monolith will bring us.
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Pros
- Visa Card usable in 99% of retail outlets.
- Zero cost moving money into Monolith Wallet
- Good simple UI, easy to use and navigate.
- Separate gas storage
- Variety of decentralised exchanges to use within the app for trading Eth based crypto
- Non-Custodial Wallet with Visa card - Be in total control of your funds
- Team are helpful and responsive
Cons
- TKN price constantly lower in the wallet than market rate
- Zero rewards for using the wallet and the card (eg crypto cash back)
- Adding funds to pre-paid card involves multiple fees, which can only be reduced using DAI or TKN
- minimal DEFI integration
- Only Ethereum-based tokens
